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Marine Insurance

Marine Insurance

Embark on a journey of secure and efficient international trade with our tailored Marine Insurance solutions. Safeguarding your cargo is more than a necessity; it’s a strategic move to protect your investments.




General Average Coverage

Essential in marine cargo transit, with TPLI it compensates partial loss, with other cargo owners contributing to perilous cargo.


Warehouse to Warehouse Coverage

Applied during offloading to customer’s warehouse, it compensates only the policyholder’s cargo, excluding others.


All Risk Coverage

Comprehensive protection against external damage/loss, labeled “all risk,” excluding issues like packing flaws, infestation, and abandonment.


Free from Particular Average Coverage (Related to Maritime Insurance)

Excludes minor losses. Covers significant ones like stranding, sinking, fire, theft, burning, or collision based on location.


Container Insurance
Damage or Loss To Containers

Container insurance, based on declared value, compensates total loss, partial loss repairs, and salvage liabilities.

Frequently Asked Questions

Which free features includes in all the packages?
Marina Operators Protects marina operators against liability for damage to private pleasure vessels or craft – while in their care, custody or control for storage or repair or alteration
Terminal Operators Protects terminal operators against liability for damage to vessels, cargo and property of others while in their care, custody or control
Stevedores Covers legal liability in connection with direct physical loss of or damage to the property of others arising from the loading, unloading and movement of cargo within a terminal.
Ship Repairers • Covers legal liability for loss or damage to vessels, their equipment and cargo while the vessels are in the insured’s care while being repaired or awaiting repair or alteration
• Coverage can be extended to include liability for third-party bodily injury and property damage, strikes and pollution
Bumbershoot / Excess Liability • Bumbershoot liability coverage for traditional marine liabilities such as protection and indemnity, collision, specific marine liabilities as well as non-marine liabilities such as automobile, employers liability and commercial general liability.
• Excess marine liability coverage responds when the scheduled primary or underlying insurance is exhausted.
Wharfingers • Covers the legal liability of commercial wharf owners for physical loss to vessels and their cargo while at their dock or wharf facilities, or physical loss to other property caused by such vessels.
Charterers • Protection for importers, exporters or traders who enter into a contract (charter party) with a vessel owner to lease all or part of a vessel against liabilities arising under vessel chartering agreement
• Covers damage arising out of loading or unloading and unsafe berth or wharf conditions, plus liability for damage to piers and pier facilities and liability for loss of life or bodily injury resulting from the charterer’s negligence
• Coverage can also be extended to include liability for damage to cargo of third parties carried on board the vessel

Is warehouse coverage included in an annual all-risk policy?
An annual all-risk shipping insurance policy does extend to goods temporarily stored during the normal course of transit. However, if goods are stored outside the normal course of transit, Warehouse Coverage may be added. Example: goods being stored in the importer’s warehouse pending shipment to the customer.

What is domestic cargo insurance coverage?
If goods on a bill of lading are split during the normal course of transit and continue to separate end destinations, domestic coverage can be added to the policy to cover those goods.

What is an all risk cargo insurance policy?
An all-risk cargo insurance policy is the broadest form of shipping insurance and will cover any physical loss/damage from any external cause. An all-risk policy will list any exclusions that are not covered, which can be added on to the policy as an additional clause. An annual open cargo policy automatically insures your shipments on set terms, conditions and rate without the need to contact your insurance broker or company each time.

What is a standard cargo insurance deductible?
Deductible options are available upon request for a rate adjustment. Please allocate your deductible on the designated field within your quote request.

My goods are not at risk so why should I get marine insurance?
It is possible that your goods may be less prone to loss or damage than others, but you still run the risk of a ship sinking, a plane crashing, or some other catastrophic event. It is important to keep in mind that a ship sinks every single day according to maritime statistics. In addition, you are vulnerable to General Average losses. A recent study concluded that a shipper will be involved in a General Average incident once every eight years. This could potentially lead to a business ending situation without a cargo insurance policy.

I always sell C. & F. or buy C.I.F., why should I change?
There are some major issues with buying on CIF terms. The first problem with buying on CIF terms is that the importer has to deal with an overseas insurance company when a cargo insurance claim occurs. The chances are you are not a valued client of that insurance company, and even if the language barriers are not a problem, which they often are, getting the insurance company’s attention to take care of business, is a challenge. Secondly, foreign insuring terms are frequently inferior to other country’s terms. In addition, if you sell goods C.& F., then technically you, being the seller, have title and responsibility for the goods until they are loaded onto the ship or aircraft. As losses frequently happen in transit before they are loaded onto the ship or aircraft, it is not wise to allow them to go uninsured.

What does basis of valuation CIF + 10% or 110% valuation mean?
The standard valuation for both annual volume reporting and payment of cargo insurance claims, unless otherwise requested, is 110%. This means that the total premium owed is calculated using the policy rate times 110% of the total cost of goods, and any covered losses are paid at 110% of the cost of goods, freight and insurance premium of the shipment, less deductible.

Doesn’t my transportation carrier pay my losses?
They do not unless you purchase specific cargo insurance from them, in which case the coverage provided is usually insufficient and ends up costing you more. Transportation carriers are not obligated to pay for your losses that occur beyond their control. Also, international law limits the liability of ocean carriers to a minimum of $500 per package. Air carriers similarly limit their liability and truckers, rail carriers, and warehouse owners limit their liability for loss according to their tariff.

What if Cargo insurance is too expensive for my company to purchase?
Before you come to this conclusion, let’s take a look at your volume, and utilizing our buying power, we can see just how much it’s going to cost. At the very least, if you currently have a policy, we can review it and suggest ways it could be improved. It costs you nothing to obtain a quote or advice from TPL Insurance.

How do I get a quotation for an annual all-risk cargo insurance policy?
It’s simple! You only need to fill out a quote application. You can do so online or call us and we will walk you through the application over the phone. Once we have a completed application, it only takes 2-3 business days for us to respond with a quote.